Torah Cement’s profits down by 42 percent in 1H 2003
Egypt’s Torah Cement recorded a 42 percent drop in net profits for the first half of 2003, reaching 11.9 million Egyptian pounds ($) compared to EP 20.4 million during the same period last year, reported CASE.
Established in 1927, Cairo-based Torah Cement manufactures and markets cement and building materials in Egypt and abroad. A 65 percent stake in Torah Cement acquired in 2000 by Suez Cement made the latter the biggest company in the sector with a market share of 30 percent. — (menareport.com)
© 2003 Mena Report (www.menareport.com)